Swiss watch exports to the United States take unexpected dip in July

Swiss watch industry exports continued their bull run in July, building on the momentum of a powerful first half.

Global exports in July were up by 6.6% compared to the same month in 2017. For the first seven months of the year, exports have risen by over 10%.

The United States rally in Q1 appears to be running out of steam, with a surprise year-on-year dip in imports of Swiss watches of 0.7% in July.

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However, for the year-to-date imports have risen by a healthy 7.6% in seven months to July.

 

 

Hong Kong had a stellar month in July, with imports of Swiss watches rising annually by almost 27%, representing over one third of the entire global growth in the month.

China imports were flat on the year while the UK saw a rise of 7.6%, the only major market in Europe that expanded in July. France was down 1%, Italy dropped 9.1% and Germany was off by 8.6%.

Bi-metal watches achieved the biggest increase in terms of both value and number of pieces exported across all price points, including the sub-$200 sector. Steel timepieces also contributed to growth.

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